Fox Run Management L.L.C. bought a new stake in EQT Co. (NYSE:EQT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,745 shares of the oil and gas producer’s stock, valued at approximately $157,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its stake in EQT by 116.7% during the third quarter. Pacer Advisors Inc. now owns 219,657 shares of the oil and gas producer’s stock worth $2,337,000 after acquiring an additional 118,303 shares in the last quarter. Cerebellum GP LLC raised its stake in EQT by 90.1% during the third quarter. Cerebellum GP LLC now owns 37,565 shares of the oil and gas producer’s stock worth $400,000 after acquiring an additional 17,802 shares in the last quarter. State of Alaska Department of Revenue raised its stake in EQT by 65.2% during the third quarter. State of Alaska Department of Revenue now owns 45,463 shares of the oil and gas producer’s stock worth $483,000 after acquiring an additional 17,940 shares in the last quarter. Parallax Volatility Advisers L.P. acquired a new position in EQT during the second quarter worth $923,000. Finally, Toronto Dominion Bank acquired a new position in EQT during the second quarter worth $231,000. Institutional investors own 96.98% of the company’s stock.
Several analysts have recently commented on EQT shares. Royal Bank of Canada upgraded EQT from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $16.00 to $17.00 in a report on Friday. ValuEngine upgraded EQT from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley decreased their target price on EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, July 26th. TD Securities decreased their target price on EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Finally, Wells Fargo & Co decreased their price target on EQT from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.50.
In related news, insider (Mick) O’brien Michael 16,562 shares of the company’s stock in a transaction that occurred on Monday, October 28th. Insiders own 0.68% of the company’s stock.
EQT stock traded up $0.53 during midday trading on Friday, reaching $11.59. The stock had a trading volume of 6,276,157 shares, compared to its average volume of 4,971,174. The firm’s fifty day simple moving average is $10.25 and its 200-day simple moving average is $14.31. EQT Co. has a 1-year low of $9.03 and a 1-year high of $21.86. The stock has a market capitalization of $2.78 billion, a P/E ratio of 6.82, a price-to-earnings-growth ratio of 1.22 and a beta of 0.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03.
EQT (NYSE:EQT) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.11. EQT had a positive return on equity of 3.81% and a negative net margin of 14.65%. The business had revenue of $951.60 million for the quarter, compared to analyst estimates of $883.29 million. During the same quarter last year, the firm earned $0.35 EPS. EQT’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that EQT Co. will post 0.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.12 annualized dividend and a dividend yield of 1.04%. EQT’s dividend payout ratio is currently 7.06%.
EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.
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